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Suryalakshmi Cotton Mills fiscal Q2 profit climbs 20.0% YOY

Suryalakshmi Cotton Mills Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.01 Indian rupees per share, a gain from 2.88 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.2 million rupees, an increase of 20.0% from 41.8 million rupees in the prior-year period.

The normalized profit margin rose to 2.7% from 2.5% in the year-earlier period.

Total revenue increased 8.2% year over year to 1.84 billion rupees from 1.70 billion rupees, and total operating expenses climbed 8.0% from the prior-year period to 1.67 billion rupees from 1.55 billion rupees.

Reported net income increased 37.5% from the prior-year period to 58.5 million rupees, or 3.51 rupees per share, from 42.5 million rupees, or 2.93 rupees per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.